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Is the Ballooning Billing Rate Ready to Pop?
Short of a seismic financial shock, hefty law firm billing rate increases are seemingly here to stay, much to the chagrin of clients and their general counsel. But that’s not to say that market conditions aren’t evolving to challenge the status quo of large rate increases — and in the words of one consultant advising corporate law departments, you don’t know you’re in a bubble until it pops.
Law firms have gone on the record saying that clients and the market are able to bear increases in legal spending, explaining why firms are continuing to raise rates above inflation or — as some in-house counsel claimed — above increases in corporate profitability. But some consultants and clients are beginning to raise some concerns about the current pricing model.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.